JPMorgan Chase & Co. Has $487.54 Million Stake in TechnipFMC plc (NYSE:FTI)

JPMorgan Chase & Co. lowered its holdings in shares of TechnipFMC plc (NYSE:FTI) by 22.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,846,619 shares of the oil and gas company’s stock after selling 5,009,766 shares during the quarter. JPMorgan Chase & Co. owned 3.96% of TechnipFMC worth $487,541,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its holdings in TechnipFMC by 4.1% during the 4th quarter. Vanguard Group Inc. now owns 40,793,925 shares of the oil and gas company’s stock worth $1,180,576,000 after buying an additional 1,623,864 shares during the period. Vaughan Nelson Investment Management L.P. raised its holdings in shares of TechnipFMC by 50.3% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 2,309,710 shares of the oil and gas company’s stock worth $66,842,000 after acquiring an additional 773,000 shares during the period. Jacobs Levy Equity Management Inc. lifted its position in TechnipFMC by 68.4% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,694,759 shares of the oil and gas company’s stock valued at $44,454,000 after acquiring an additional 688,622 shares in the last quarter. Franklin Resources Inc. boosted its stake in TechnipFMC by 23.0% in the 3rd quarter. Franklin Resources Inc. now owns 3,639,244 shares of the oil and gas company’s stock worth $98,838,000 after purchasing an additional 679,748 shares during the period. Finally, Ninety One UK Ltd increased its holdings in TechnipFMC by 69.7% during the 4th quarter. Ninety One UK Ltd now owns 813,016 shares of the oil and gas company’s stock worth $23,529,000 after purchasing an additional 333,897 shares in the last quarter. Institutional investors own 96.58% of the company’s stock.

TechnipFMC Price Performance

Shares of NYSE FTI opened at $31.18 on Friday. The company has a quick ratio of 0.89, a current ratio of 1.14 and a debt-to-equity ratio of 0.22. The business’s 50 day moving average price is $29.56 and its two-hundred day moving average price is $28.90. The company has a market cap of $13.11 billion, a PE ratio of 20.51 and a beta of 1.54. TechnipFMC plc has a twelve month low of $22.99 and a twelve month high of $33.45.

TechnipFMC Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Tuesday, March 18th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date of this dividend is Tuesday, March 18th. TechnipFMC’s dividend payout ratio (DPR) is presently 10.42%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Jefferies Financial Group raised TechnipFMC from a “hold” rating to a “buy” rating and upped their price objective for the stock from $29.00 to $40.00 in a research report on Friday, December 6th. Piper Sandler upped their price target on TechnipFMC from $39.00 to $40.00 and gave the stock an “overweight” rating in a research report on Friday, February 28th. Evercore ISI lifted their price objective on shares of TechnipFMC from $37.00 to $39.00 and gave the company an “outperform” rating in a report on Wednesday, January 15th. The Goldman Sachs Group began coverage on shares of TechnipFMC in a report on Friday, December 13th. They set a “buy” rating and a $38.00 target price for the company. Finally, StockNews.com lowered shares of TechnipFMC from a “buy” rating to a “hold” rating in a research note on Thursday. Two analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $36.31.

Insider Buying and Selling at TechnipFMC

In other TechnipFMC news, Director Carvalho Filho Eleazar De sold 9,381 shares of the stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $29.76, for a total value of $279,178.56. Following the transaction, the director now directly owns 100,951 shares of the company’s stock, valued at $3,004,301.76. This represents a 8.50 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO David Light sold 10,147 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $24.90, for a total value of $252,660.30. Following the sale, the chief accounting officer now owns 7,529 shares of the company’s stock, valued at approximately $187,472.10. This represents a 57.41 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 61,706 shares of company stock valued at $1,651,665 in the last quarter. 1.80% of the stock is currently owned by insiders.

TechnipFMC Company Profile

TechnipFMC plc engages in the energy projects, technologies, and systems and services businesses in Europe, Central Asia, North America, Latin America, the Asia Pacific, Africa, the Middle East, and internationally. It operates through two segments: Subsea and Surface Technologies. The Subsea segment engages in the design, engineering, procurement, manufacturing, fabrication, installation, and life of field services for subsea systems, subsea field infrastructure, and subsea pipe systems used in oil and gas production and transportation.